MTN, C&I Leasing Lead NGX Rally as Market Capitalisation Gains ₦2.27 Trillion

Nigeria’s equities market ended the week on a strong note on Friday, September 18, with the NGX All-Share Index rising 1.42% as gains in MTN Nigeria, C&I Leasing, Fortis Global Insurance and other stocks lifted the market. The benchmark index advanced by 3,489.18 points, closing at 249,804.56 points, compared with 246,315.38 points in the previous session. Market capitalisation also increased by approximately ₦2.27 trillion, rising from ₦159.89 trillion to ₦162.16 trillion, according to market reports. MTN, C&I Leasing Among Major Gainers C&I Leasing and Fortis Global Insurance recorded the strongest gains among the listed stocks, with each rising 10% to close at ₦5.50 and ₦1.65, respectively. MTN Nigeria gained 9.20%, moving from ₦815 to ₦890 per share. Other notable gainers included Mutual Benefits Assurance, which rose 9.09% to ₦3.60, and Secure Electronic Technology, which also gained 9.09% to close at 72 kobo. Market breadth was positive, with more stocks recording gains than losses during the session. Transcorp Power Leads Decliners Despite the broad market rally, several stocks recorded significant declines. Transcorp Power fell 9.96% to ₦178, while Cadbury Nigeria dropped 9.32% to ₦53. Omatek declined 8.40% to ₦1.20, Sovereign Trust Insurance lost 6.78% to ₦2.20, and Ellah Lakes fell 5.11% to ₦8.35. The banking sector gained 2.23%, while the insurance sector advanced 1.03% and industrial goods rose 0.81%. The energy sector recorded a marginal 0.01% increase, while the consumer goods index declined 0.36%. Trading Activity Investors traded about 526 million shares in more than 44,000 deals, with total transaction value reaching approximately ₦96.9 billion. Although trading volume and the number of deals declined compared with the previous session, the value of transactions increased substantially. The strong close pushed the NGX market capitalisation to a record ₦162.16 trillion, according to Nairametrics, marking the first time the market crossed the ₦162 trillion level. Source/Verification: Business Post Nigeria, Nairametrics and THEWILL, reporting on the NGX trading session of Friday, September 18, 2026.